Some  two years after fining a number of large, global banks for rigging the London Interbank Offered Rate (LIBOR) — the primary benchmark for most loan rates around the world — Swiss, British and American regulators have now fined a number of large, global banks for rigging benchmarks utilized by fund managers to decide what to pay for foreign currency in the foreign exchange (forex) market.

See some reporting here and here and some cogent commentary here and here.